Lam Research Co. (NASDAQ:LRCX) Shares Purchased by Fisher Asset Management LLC

Fisher Asset Management LLC grew its position in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 0.6% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,871,473 shares of the semiconductor company's stock after purchasing an additional 11,093 shares during the period. Fisher Asset Management LLC owned approximately 0.15% of Lam Research worth $1,527,273,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Jennison Associates LLC raised its stake in shares of Lam Research by 20.0% in the third quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company's stock valued at $194,451,000 after acquiring an additional 39,725 shares in the last quarter. Creative Planning raised its stake in shares of Lam Research by 2.5% in the third quarter. Creative Planning now owns 47,377 shares of the semiconductor company's stock valued at $38,664,000 after acquiring an additional 1,146 shares in the last quarter. Vest Financial LLC raised its stake in shares of Lam Research by 68.7% in the third quarter. Vest Financial LLC now owns 35,991 shares of the semiconductor company's stock valued at $29,372,000 after acquiring an additional 14,658 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Lam Research by 9.0% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 340,855 shares of the semiconductor company's stock valued at $278,165,000 after acquiring an additional 28,089 shares in the last quarter. Finally, Benson Investment Management Company Inc. acquired a new stake in shares of Lam Research in the third quarter valued at $5,182,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Lam Research Price Performance

Shares of LRCX traded up $1.07 during mid-day trading on Monday, reaching $73.71. 16,705,273 shares of the company's stock were exchanged, compared to its average volume of 11,264,133. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. The company has a 50-day simple moving average of $76.86 and a two-hundred day simple moving average of $87.16. Lam Research Co. has a 52-week low of $68.72 and a 52-week high of $113.00. The company has a market cap of $94.84 billion, a price-to-earnings ratio of 23.85, a PEG ratio of 1.15 and a beta of 1.48.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.81 by $0.05. The firm had revenue of $4.17 billion during the quarter, compared to analysts' expectations of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. Lam Research's revenue for the quarter was up 19.7% on a year-over-year basis. During the same period in the previous year, the company earned $6.85 EPS. On average, sell-side analysts predict that Lam Research Co. will post 3.52 EPS for the current fiscal year.

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $0.92 annualized dividend and a dividend yield of 1.25%. Lam Research's dividend payout ratio is presently 29.77%.

Analyst Ratings Changes

Several research firms recently commented on LRCX. Citigroup dropped their target price on Lam Research from $99.00 to $89.30 and set a "buy" rating on the stock in a report on Monday, September 16th. TD Cowen increased their target price on Lam Research from $100.00 to $105.00 and gave the company a "buy" rating in a report on Thursday, August 1st. BNP Paribas raised Lam Research to a "hold" rating in a report on Thursday, October 24th. Mizuho dropped their target price on Lam Research from $105.00 to $95.00 and set an "outperform" rating on the stock in a report on Friday, September 20th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and set a $100.00 price objective on shares of Lam Research in a report on Thursday, October 24th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $97.97.

Insider Activity

In other news, CAO Christina Correia sold 647 shares of the business's stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total transaction of $528,928.97. Following the completion of the sale, the chief accounting officer now directly owns 4,267 shares of the company's stock, valued at $3,488,315.17. The trade was a 13.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.29% of the company's stock.

Lam Research Company Profile

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.